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Kowloon Development's FY'17 profit to rise YOY

According to a preliminary review of Kowloon Development Co. Ltd.'s unaudited consolidated management accounts, the Hong Kong-listed company expects its profit for the year ended Dec. 31, 2017, to climb year over year.

The estimated rise in profit is attributed to an increase in profit received from the company's development projects in mainland China and a higher profit contribution by Polytec Asset Holdings Ltd., a 73.4%-owned listed unit of Kowloon Development.

Final results for the full year are expected to be made public in late March.